As a seasoned crypto investor, I’ve seen my fair share of market swings and volatility. Bitcoin’s recent price actions have been relatively dull compared to the wild rides we’ve experienced in the past. However, the $800 gain to almost $66,000 earlier today was a welcome sight.
In the last 24 hours, Bitcoin‘s price remained relatively unchanged, with its most significant surge being a $800 rise that brought it close to $66,000 around midday.
Most altcoins experienced modest increases today. Notable exceptions include TON, NEAR, and RNDR, which saw some growth. However, these coins were significantly surpassed in performance by Fetch.ai’s FET.
BTC Fails at $66K
As a cryptocurrency analyst, I observed that the leading digital currency experienced a sudden and sharp decline towards the end of the last business week, dropping from approximately $67,000 to around $65,000 within hours on a Friday. Following this downturn, the price rebounded slightly over the weekend, remaining mostly stable around $66,000 throughout the period.
Bitcoin experienced another decline, reaching around $65,000 on Monday. But then, it surprisingly surged back up to $67,200. Despite failing to sustain this level and dipping down to $64,000 a few times, some large investors seized the opportunity to reenter the market as ETF withdrawals continued.
Yesterday, during the US national holiday when trading on Wall Street came to a halt, my crypto investment managed to recoup some losses. However, the real action happened earlier today when the asset surged towards $66,000, but unfortunately fell just short of reaching that price point and is now hovering close to it.
Despite recent quietness in volatility, bitcoin’s market capitalization stays under the $1.3 trillion mark. Additionally, bitcoin’s control over the altcoins has experienced a slight decrease, now at 51.3%.
FET Takes the Main Stage
Due to Nvidia’s significant expansion this year, various artificial intelligence-linked tokens have experienced remarkable growth in the past day. Notably, Fetch.ai’s native coin has led the charge with a substantial 30% increase that reached approximately $1.7 at its peak earlier today.
Significant returns are derived from investments in alternatives like NEAR (boasting a 9% increase), RNDR (with a 6.5% growth), and TON (gaining 5%). The larger cap alternatives, for the most part, also display positive trends albeit with more subdued progression.
In contrast, SOL, UNI, DOT, and LEO are slightly in the red.
The cryptocurrency market’s total value has rebounded by approximately $50 billion since its mid-week minimum, and it currently stands at over $2.5 trillion according to CoinMarketCap.
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2024-06-20 11:56